Citigroup Raises Bunge Global (NYSE:BG) Price Target to $122.00

Bunge Global (NYSE:BG) had its price target upped by Citigroup from $117.00 to $122.00 in a research report report published on Thursday, Benzinga reports. Citigroup currently has a buy rating on the basic materials company’s stock.

Several other analysts have also recently weighed in on BG. Robert W. Baird cut their price objective on Bunge Global from $125.00 to $108.00 and set a neutral rating on the stock in a research report on Tuesday, January 23rd. The Goldman Sachs Group cut their price objective on Bunge Global from $141.00 to $126.00 and set a buy rating on the stock in a research report on Tuesday, February 13th. StockNews.com cut Bunge Global from a buy rating to a hold rating in a research report on Monday, February 26th. HSBC upgraded shares of Bunge Global from a hold rating to a buy rating and lowered their target price for the company from $122.00 to $105.00 in a report on Friday, February 9th. Finally, BMO Capital Markets lowered their target price on shares of Bunge Global from $130.00 to $120.00 and set an outperform rating for the company in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Bunge Global presently has an average rating of Moderate Buy and a consensus price target of $121.00.

Bunge Global Stock Down 1.3 %

NYSE BG opened at $102.73 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 1.20. The stock has a market capitalization of $14.55 billion, a PE ratio of 8.27 and a beta of 0.64. Bunge Global has a 1 year low of $86.10 and a 1 year high of $116.59. The business’s 50-day moving average is $99.50 and its 200 day moving average is $99.94.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.49. The business had revenue of $13.42 billion for the quarter, compared to analysts’ expectations of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The business’s revenue was down 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.26 EPS. Sell-side analysts forecast that Bunge Global will post 9.03 earnings per share for the current year.

Hedge Funds Weigh In On Bunge Global

Hedge funds have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its holdings in Bunge Global by 169.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 146 shares during the last quarter. NewSquare Capital LLC purchased a new position in Bunge Global in the 4th quarter worth approximately $37,000. Rise Advisors LLC raised its holdings in Bunge Global by 40.6% in the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 117 shares during the last quarter. Riverview Trust Co purchased a new position in Bunge Global in the 1st quarter worth approximately $46,000. Finally, Ramirez Asset Management Inc. purchased a new position in Bunge Global in the 3rd quarter worth approximately $54,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.